What Do Snow Forecasts Have in Common with the Value of Your Home?

By
Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

What Do Snow Forecasts Have in Common with the Value of Your Home?

This week the Bristow and surrounding Northern Virginia area have been hearing about an impending snow storm.  This storm was to start Saturday night and go into Sunday afternoon.  Wednesday afternoon forecasts showed the snow's total accumulation between six and eight inches.  A check of projected accumulation yesterday evening showed only one to two inches.  With the storm moving into the area within hours the forecast changed to six to ten inches total accumulation.   Now, as the storm has been going for a few hours, the forecast says for to eight inches of snow.  We'll know tomorrow afternoon what's right, but my goodness, the predictions have been all over the map.

So what does this have to do with the value of your home?  Asking a real estate agent what your  home is worth is only as good as the current information that agent has in hand.  To give someone an accurate representation of value a real estate agent needs to know what the demand for that home is, what the competition is and what similar homes sold in the recent past.  All of that stuff is constantly changing, just like weather patterns.  You can't really get an accurate prediction of your home's value for six months from now with today's data.  Who knows what your competition will then, or what the most recent sales will report or what buyer demand will be.

The best you can do is know the value of your home right now.  And all those snow accumulation predictions were made with whatever data was available then.  Of course, just like the value of your home, the most recent to the impending storm, or during the storm's start, will be the most accurate.

To get the best advice on the value of your home, it is also important to talk to an experienced local agent, preferably one that does this for a living.  Agents that work this job on the side may not have the amount of experience in the day to day marketplace.  Just like any other job, the ones that are present for the most work, know the most about the job.  

When it comes to knowing your Bristow, Gainesville or Haymarket home's value, I am a very experienced local agent.  I've been at this since 2005 and can give you the most accurate information along with an interpretation of that data based on the current rhythm of the market place.   When you want to know your home's value, call me anytime.  Just realize, I'm giving you value based on selling NOW.  I can't predict the future, but I'm happy to do a quick CMA for you anytime.

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Susan Haughton 01/14/2019 09:48 AM
Topic:
Home Selling
Location:
Virginia Prince William County Bristow
Groups:
Art of Professional Salesmanship
Bananatude
Bartender, Make it a Double
Late Night Professionals Club
Old Farts Club
Tags:
predicting your homes value in bristow gainesville haymarket

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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Chris Ann- what a good analogy and a great illustration of the saying that Real Estate is local, just like your weather forecast. 

Jan 12, 2019 06:48 PM #1
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Francine Viola
Coldwell Banker Evergreen Olympic Realty, Olympia WA - Olympia, WA
In Tune with your Real Estate Needs - Olympia WA

This is a great analogy about home values and pricing.  It takes an experienced, full time, local agent like yourself to best advise sellers in VA.

Jan 12, 2019 07:54 PM #2
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

You did illustrate a good analogy - it all depends. The best we can do is use the information we have today - nobody, and I mean, nobody, can predict the future. Naturally, we can factor in pricing trends, but even then, who the heck knows what might happen 2 or 6, or 9 months from now. And of course, just like local weather folks, the local real estate pros are the best predictors of the market. 

Jan 12, 2019 08:15 PM #3
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Good morning Chris Ann Cleland and this is why appraisals are written "as of the date of the appraisal".... values could change by the day....

Jan 13, 2019 03:41 AM #4
Rainmaker
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Terrific analogy, Chris Ann. Easy for people to understand how market values are determined.

Jan 13, 2019 04:56 AM #5
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Chris Ann. So true that it is about the interpretation of the facts. Enjoy your day!

Jan 13, 2019 05:02 AM #6
Rainmaker
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Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Chris Ann. I really enjoyed this and would agree both about the weather and the market. Nicely done.

Jan 13, 2019 05:25 AM #7
Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Chris Ann - so many factors to consider and the influence can/does vary. Good thoughts.

Jan 13, 2019 06:29 AM #8
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Weather can have a temporary effect on values but it is not usually much from what I have seen

Jan 13, 2019 07:15 AM #9
Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope 2019 is a great year for you.

Jan 13, 2019 07:16 AM #10
Rainmaker
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Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

I'm so sorry that seller blamed you for the buyer's problems. As an agent who routinely sells homes twice or three times due to flakey buyers, I can tell you that the magic of managing seller expectations and making sure the blame does not fall in your direction, especially when you've done nothing wrong, is a challenge at times.

Jan 13, 2019 10:19 AM #11
Rainmaker
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Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Your post has me pondering whether we should slightly alter our "All real estate is local," with "All real estate is local depending on the weather."

Jan 13, 2019 11:17 AM #12
Rainmaker
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Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Chris Ann, on having this blog FEATURED in the Old Farts Club group!  

Jan 13, 2019 11:18 AM #13
Rainmaker
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Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Chris Ann Cleland, this is a great analogy, many agents follow the same mentality as the weather forecasters.

Jan 13, 2019 11:35 AM #14
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Chris Ann Cleland

Associate Broker, Bristow, VA
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